AUCKLAND LAND ASSOCIATION.

New Zealander, Volume 9, Issue 720, 9 March 1853, Page 2

AUCKLAND LAND ASSOCIATION.

The first general half-yearly meeting of the members of this Society was held, as directed by the Rules, in the Hall of the Mechanics' Institute, oa Monday evening last, —Dr. .Bennett, President of the Associatiou, in the Chair. Notwithstanding the inclemency of the weather the attendance was numerous.

After the proceedings of former Meetings had been read by the Secretary, Mr. A. W. Hansard, and continued, the several financial statements required by the Laws of the Society were presented. These included a full statement of all sums received and expended on account of the Association, and a general statement of the funds and effects, specifying in whose hands the same are deposited ; which were respectively prepared by the Treasurer (Mr. Archibald Clark), countersigned by the Trustees (Messrs. J. "Williamson, J. Makepeace, and Thomas Russell) and the Secretary, and attested by the Auditors (Messrs. G. Graham, J. Fielding, and G. Smith). It appeared thai, from the 9lh October, 4852, to the 28th of February, 1855, the receipts—from the entrance fees and subscriptions of 77 members, holding 168 shares—had amounted to 325/. 2s. Od. Besides meeting various.incident tal outlays, there had been paid to shareholders within that time, 183/. 2s. 66., and there remained deposited in the Union Bank, 118/. 17s. 2d.,—subject, however, to the immediate payment of five shares already allotted to members, but the amounts of which they liave not yet actually expended in the purchase of land. The details, of which these figures form the totals, having been laid before Uie meeting, the several statements were unanimously received and adopted by the Shareholders. After this business had been transacted, a. drawing took place in the usual manner, and Mr. Wm. Tattersall became entitled to the next appropriation of the funds, to the amount of three shares.

It will be seen that, short as is the time since the Society came into operation, it has already realized, in no considerable degree, the object of its institution,—viz. .enabling members by a small weekly subscription to secure at an early period the purchase of freehold land, or to pay offincumbrances or effect improvements upon properties of which they were possessed,—benefits which, but for the assistance afforded by the Association, they might not have been able to acquire for a long period. As its advantages become more fully developed and extensively known, there is liltle doubt that many others will be desirous to avail themselves of the opportunities which it holds out in these respects, and the encourage-i meut it offers to the "exercise of foresight and; economy."